Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $357.00 Price Target at Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNYFree Report) had its target price upped by Canaccord Genuity Group from $283.00 to $357.00 in a research note released on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. Bank of America upped their price objective on Alnylam Pharmaceuticals from $248.00 to $295.00 and gave the company a buy rating in a research note on Tuesday, June 25th. Needham & Company LLC raised their price target on Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a buy rating in a report on Monday, June 24th. Barclays lifted their price objective on shares of Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the stock an overweight rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. increased their price objective on shares of Alnylam Pharmaceuticals from $160.00 to $248.00 and gave the company a neutral rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley lifted their target price on shares of Alnylam Pharmaceuticals from $164.00 to $250.00 and gave the stock an equal weight rating in a report on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $253.32.

Get Our Latest Stock Analysis on Alnylam Pharmaceuticals

Alnylam Pharmaceuticals Trading Up 1.6 %

NASDAQ:ALNY opened at $255.11 on Monday. The stock has a market capitalization of $32.27 billion, a PE ratio of -95.19 and a beta of 0.37. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $255.40. The firm has a fifty day simple moving average of $172.35 and a 200 day simple moving average of $167.30.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. The business’s revenue was up 54.8% on a year-over-year basis. During the same period last year, the business earned ($1.40) EPS. On average, equities analysts predict that Alnylam Pharmaceuticals will post -3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $276,726.02. Following the completion of the sale, the executive vice president now directly owns 14,181 shares in the company, valued at approximately $3,275,669.19. The sale was disclosed in a filing with the SEC, which is available through this link. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $1,917,447.99. Following the sale, the chief executive officer now owns 80,534 shares in the company, valued at $18,602,548.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $276,726.02. Following the transaction, the executive vice president now owns 14,181 shares of the company’s stock, valued at $3,275,669.19. The disclosure for this sale can be found here. Insiders sold 67,357 shares of company stock worth $13,436,711 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ALNY. Norges Bank acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at approximately $390,438,000. Capital International Investors grew its stake in shares of Alnylam Pharmaceuticals by 15.8% in the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after purchasing an additional 488,814 shares during the last quarter. Wellington Management Group LLP increased its holdings in Alnylam Pharmaceuticals by 6.0% in the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock valued at $1,139,074,000 after purchasing an additional 364,021 shares during the period. Vanguard Group Inc. raised its position in Alnylam Pharmaceuticals by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after purchasing an additional 287,064 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after buying an additional 214,908 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

(Get Free Report)

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.

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